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a gun. was it could? to like this? that is our show tonight. [applause] >> and n john stossel. john: food can kill. people will eat the wrong stuff may get sick. it's while most everyone says we need government to set some limits. make sure there is not bacteria in your food or dangerous chemicals. to make sure food companies tell you what is in their food and how fattening it i. state legiator felix ortiz has done that in new york city. he got trans fat man, calorie counts posted at mcdonald's and other fast-food places. now he wants a ban on adding too much salt. so you think he saved lives? >> absolutely. john: okay. a farmer. he grows vegetables dollar raises cows, chickens, and pigs. i assume you want the people who buy your beef and pork to be safe so don't we owe him a vote of thanks for saving this? >> no. i would say you're killing me out here. trying to get my stuff to market. this plethora of government regulaons, you know, is killing our farm and our ability to come to market. john: you are just a greedy businessman and don't care people ed. let's go through some of the
was it could? to like this? thatis our show tonight. [applause] >> and now john stossel. john: food can kill. people will eat the wong stuff may get sick. it's while mostveryone says we need government to set some limits. make sure there is not bacteria in your food or dangerous chemicals. to make sure food companies tell you what is in their food and how fattening it is. state legislator fel ortiz has done that in new york city. he got trans fat man, calorie counts posted at mcdonald's and other fast-food places. now he wants a ban on adding too much salt. soyou think he saved lives? >> absolutely. john: okay. afarmer. he grows vegetables dollar raises cows, chickens, and pigs. i assume you want the people who buy your beef and pork to be safe. so don't we owe him a vote of thanks for saving this? >> no. i would say you're killing me out here. trying to get my stuff to market. this plethora of government regulations, you know, is killing our farm and our ability to come to market. john: you are just a greedy businessman and don't care if people died. let's go through some of the wa
and tracey and john . jill joining us. wayne we'll start with you. is it time for a national lottery to pay down the federal debt same time. >> a question why not. if it works with the state governments. why not the federal government and make it a big and huge one and any lttle niche that you can knock down the deficit is good. >> okay, but john, what happens to the states. we are finding out that california is signing up for powerball because of the revenues that they get. ist bad for states. >> it is really bad for states. wayne has much chae of winning the lottery as geth through a comment without johnathon interrupting. >> zero. >> and the problem you have with this. this could be a billion dollar ck mots and huge and going to kill the state lottos and in the stouthern states. they were sold as a way of funding education . that didn't happen. they are dependent on the general fund. cash strapped states that depend on the lotto, you will cripple the funding for the states is it a bad idea. it robseter to pay paul. >> johnathon, you wouldn't be cutting wayne off. >> i am keeping quiet. w
creep. maybe i got you wrorong. >> it is i an itch. >> and john, what about this. we have a budget if you can call it a budget that includes tax increases and no cuts at all from our treasury security. >> the tax increase aspect is ridickulous. we have a spending problem . you look at entitlements. i think it is i i don't they should exist. we did make promises and so the idea should not be cutting entitlements and those nearing retirement you will be made but those of you who are not congentitally socialist you can opt out and don't have to participate in medicare and social security. that's how you cut enments. >> by the way, that grole you hed when john said there was not a spending problem that came from rick and mark. rick, don't we have a spending problem at all. >> of course we do. i don't dy that. why is it not addressed by the president? >> it is this kind muchunging to get us over the fiscal cliff. we are two parts to the soluti. focus on the correct entitlements to cut and reorganize medicare so it works but doesn't take us down the drain. >> there are no offer the allel
governor tried to -- john boehner, i am neil cavuto, we may be on the brink but that does not mean cuomo still does not give washington to give up some bank. 42 needed millions dollars for hurricane sandy relief. similar requests likely coming from governors in new jersey and connecttcut. who all together want this all too dumbing figure in post hurricane help, a hundred billion bucks, i don't know if they get all of it, but i think they get most, here is why americans, have big hearts, folks need help. they need a lot, many still without power, and without homes and without patience or hope, something needs to be done. judging from the back slapping help politicians, the government is still the one to do it but is it? think about it. if the road to virtue were paved with billion dollar bills then everyone in washington would be the pope, news flash, they are not, they are not good as getting bang for their buck. think of all those gas taxes that were to pay for those bridges, or tolls of no bridges to pay for fixing those bridges, and highways. think about that social security lockbox.
. there is no doubt about that. you think that john boehner is making a mistake by rejecting tea party? i think the speaker makes a mistake and the tea party is not a group that embraces serious tangibles of government that is traditionally work in this country. there are members of congress who got elected because, in fact, the tea party activists across the country were involved in the election. the tea partiers and outsiders -- i would remind john boehner that there was a time when he was the outsider that was an annoyance to the party leadership. i understand the speaker being annoyed when he has people within his caucus that are committed to a set of principles that they make it hard for him to make easy deals. but i would also remind him that people are not going to forsake their principles for something that is as insignificant and their life as a committee assignment remark that is right. >> if he thinks this is a party discipline, he is sadly mistaken. he often knows that from his own experience as a younger time in his service in congress. charles: representative, it has been set from
reid, now he is meeting with house speaker john boehner, that meeting just getting underway, after that meeting with senate republican leader mitch mcconnell and house democratic leader nancy pelosi and with the president and republicans on raising taxes republicans are trying to shift the focus to spending cuts and entitlement reform. >> i hope when tim geithner comes to capitol hill that he will put forward something concrete. so far all we got out of the administration are these demands for higher taxes, they're willing to discuss what is driving federal spending and debt and that is in title and programs. peter: we learned president obama and john boehner spoke for 15 minutes last night. i just bumped into a senior leader among senate democrats and asked him how he felt about this news and he said -- he was more optimistic about these negotiations today. he thought perhaps this man the speaker and the president were exchanging proposals on avoiding the fiscal cliff, john boehner has a press conference at 11:30 after his meeting with tim geithner. connell: we will speak with --
are reputation, it protects us much better than government over well. that is our show. i am john stossel, thank you for watching. >> congratulations. >> and good to see you, hap saturday. >> one month to go before our financial d-day and d.c. is still stuck in a stalemate. and now a new plan is emerging to buy more time bypassing an extension and pushing the deadline back. job creators slamming the idea, saying it will do nothing to kill uncertainty and could rewind any signs of recovery. so, why is someone here certain it will work? hi, everyone, i'm brenda buttner, this is bulls and bears. let's get right down to it. bulls and bears gary b smith, tobin smith. jonas max ferris and larry glazier, welcome to everybody. and larry, you say delay it? >> that'right, that's right, brenda, given the choice between the loss of millions of jobs in a deep and severe recession or delayg a deal in hopes of getting meaningful spending cuts in washington, the kind of spending that would cut the 4 billion dollars worth of additional spending every day, that's the long-term not the short-term torevent being ba
u.s. ambassador to the united nation, john bolten, judith mill eric and ed qlien. we begin with the closed door briefs on benghazi that lawmakers say raises more questions than ever that the obama administration insisted the attack was the response of a demonstration prompted by rage over an anti-islam video. fox news correspondent with the latest on what lawmakers saw and heard today from the country's top intelligence officials. >> the closed classified briefing brought together seen your state department, intelligence, and counterterrorism officials for a report on the three-month old investigation into the benghazi terrorist attacks. >> to the degree there was planning involved, something done over days, weeks, or over hours? no indication of long term planning here. >> the attacks cronology was laid oillet in a multimedia presentation with drone surveillance and video from the consulate of the cia and annex. >> this is supposed to be sovereign u.s. territory, and if people walk in on us like that without resistance really makes your blood boil because you think to your
to the closing bell" starts right now. you heard it from the horses mouth. and it has gyrated the market. john boehner said no substantial progress on fiscal cliff debt deal while harry reid insists we democrats are on track and will finalize it this year. even chuck schumer weighed in saying progress is being made on the hill and the next is a taste oversensitive. take a look at the intraday, you can see how it was jerked around today. right around 11:30 a.m., speaker john maye -- john boehner spoke. the buyers poured in, the short time later chuck schumer came in. now we are trading near the highs of the day. the dow jones dust they stop 77 points, 45 to the upside. all 10 s. and p. sectors are jumping with technologies leading the way. research in motion a big winner. can you believe the stock is near $12 per share. rim was at $6 per share, but positive comments out of goldman sachs fueling the game. apple in the green continuing the postelection resurgence. apple was in bear market correction level just a few weeks ago, but right now jumping about 1%. disappointing november sales numbers.
people will be buying those blue boxes. this could be a nice stimulus for the economy. john boehner saying he has seen no substantive progress on the fiscal cliff talks in the last couple weeks. what compromises need to be made? sheila bair, being a former fdic chair, telling us 4 ways wall street can help out and it is not all good news for investors. liz: did you see the cover of the wall street journal? fed stimulus like gillian 2013. we talked about this the second broke yesterday halfway through the 3:00 p.m. show. the man who wrote the article, wall street journal's chief economic correspondent and chief head head to lend us live. dave: before that is of we will tell you what drove the market with the data download. stocks extending yesterday's gains finishing a volatile session higher with the dow, s&p and nasdaq trading above the 200 day moving average for the first time in three weeks. telecom and health care were the top performing sectors. fewer americans filing first-time applications for unemployment benefits as hurricane sandy had the labor market and continues to subs
year. what is it that makes the elderly so vulnerable? turns out it is in the science. fox news's john roberts has the details. >> good evening to you, gerri. we hear about the heart-breaking stories all the time. elderly people fall victim to scams whether unscrupulous home repair company or scam on internet or something in direct mail. we wonder why is it that they're so vulnerable? scientists from the university of california at los angeles, ucla, did a whole lot of research about this. it has less to do with cognitive decline as we get older but more to do how our emotions change. it is an area of the brain insular cortex, specifically the part of the brain that gives us the emotion disgust. ucla researchers took two groups, one age 2, the one average age 68. showed them pictures of people who were untrust worth any. here is what they found looked at functionnl mri associated with that. in the younger brains the areas of the brain that deals with disgust lit up like a stoplight that said stop, don't go further. in the older individuals the brains didn't register anything. untrustwo
determined to solve our spending problem. to also solve this debt crisis. neil: speaker john boehner is not too confident that things are looking good. saying that republicans are not the ones blocking a deal to avoid the disaster. if you're loing at the headlines, you would almost assume that he is lying. because it looks like republicans are the ones getting in t way of the compromise. so insisting on revenues, that it makes nothing of the point that democrats are equally insistent upon spending. start reading the fine print. $1.6 trillion in tax hikes. gretchen hamilton says the median is focusing on republicans rejecting the deal and maybe not democrats offering a lousy deal. it is true. it is remarkable in terms of the coverage how unbalanced it is. >> by now, the media is focusing on this and over the course of the year, it has been about a campaign that has happened across 50 states. but right now this is about a negotiation that is happening inside in the beltway. the press wants a soap opera. they are focused on the pettiness and policy and that is wh we are seeing about rep
. at least for today. progress getting a fever pitch as john boehner says white house needs to get serious. senate majority leader harry reid says he is waiting for a serious offer from republicans. so there you can see the stock market slightly higher, reacting to every last word coming out of capitol hill. now the dow was higher, but off of the best levels of the session as we make progress. melissa arizona is the latest state to refuse the exchange. we will bring on judge andrew napolitano to talk about this one. lori: "time" magazine announcing it candidate for person of the year. wait until you hear who the candidates are. we will handicap the list with lou dobbs. melissa stocks as we do every 15 minutes. nicole petallides standing by. stocks are losing sseam as house speaker john boehner took the podium although they have recovered a bit. nicole: is difficult to monitor which way and guess which way the market will go as each headline process crosses, we'reg the market being started around the unchanged line. and then you have people saying how the white house has had a change of tun
? the question, are we going to give them money for this upgraded status? let's ask john boulton, former u.s. ambassador to the united nations. he joins us on the phone. it's very simple, ambassador, are we going to be paying for palestinian? >> well, i think it's going to come in very short order, this vote won't do it, but, you know, this is part of the effort by the palestinian authority over the years to pretend that it's actually a state, and to justify more assistance, i think it will try and use u.n. channels more effectively to get money and may well join other u.n. specialized agencies now that the general assembly said it's the state. ab you know, israel and the state department have tried to play down yesterday's vote, but i'm afraid unlike a lot of u.n. votes which truly are completely meaningless, this one is going to have a real effect. >> ultimately i've got about 20 seconds left. are we going to be looking at billions of american taxpayer dollars going to palestine? >> under the obama administration, i think it's a real risk. i think they've been hostile to israel and this
through that. you know, john engler, he and i philosophically do not agree on much -- [ laughter ] >> you know, i am just being honest about john. he ii a great politician. he comes from the other party. he is exactly right when he says the only thing that the debt ceiling is good for is destroying your credit rating. i want to send a very clear message to people here. we are not going to play that game next year. if congress in any way suggest that they will type negotiations to that feeling both and take us to the brink of default onne again, as part of a budget to go she asian, which, by the way, we have never done in our history, until we did it last year, i will not play that game. with that, let me just say, we have one path where we resolve this fairly quickly. we have some tough spending cuts. we have modest revenue increases. you get business certainty. you do what you do best. and, we then have an open running world next year to deal with a whole host of other issues like infrastructure, tax reform and immigration reform that will further make america and competitive. that is on
left to stop the u.s. from going over the fiscal cliff. staff and speaker john boehner's office telling fox business the lines of communication open, but it's an empty house in washington. look at these pictures. house members on their long weekend break, and the senate is out until monday, but not before working out logistics for a big event. a private screening of steven spielberg's lincoln at the capital. now, harry reid using his time to take a special waiver to allow unbuttered popcorn in the auditorium. that's what passes for work these days. the president's holding another campaign style event as the middle class families, and with more, michael burgess of texas. congressman, great to have you object show again. >> great to be with you, thank you. gerri: everything's hanging in the banse, economy, middle class income, taxes, you name it, and you and your fellow house members are not going to work. >> well, wait, this is a 24-hour day job, seven days a week. i'm in new york tomorrow looking at the hospitals affected in hurricane sandy, and i feel like i need to do the ground work
cliff but a deal may finally be in reach and senator john barrasso joins us with an update. that is coming up next. >>> plus a sixth straight day of protests against egypan president rsi. we'll tell you how his most powerful opponents are no planning to rein him in. more "money" coming up. ♪ you stl think you're colder than me? nah. don tell me. tell tiny! [ ice crackng ] [ knuckles cracking ] and who are you supposed to be, back-up? ndle it. what you looking at? ha! cat-like reflexes... whoa! [ male announcer ] the coors light silver bullet pint. it's bigger. it's resealable. it's still the colde. don't you do it. don't you do it! [ male announcer ] ost brewed coors light. the world's most refreshing beer! ♪ . melissa: and now, to the fiscal cliff. things seem to take a 180 as news out of the white house indicated progress, made. earlier senator orrin hatch said both sides were about dal billion away from a deal. that sounds like a lot. in washington that is nothing, going over the cliff. we were looking more than 600 dal billion in tax increases and spending cuts. wal
, it protects us much better than government over well. that is our show. i am john stossel, thank you for watching. [applause]hour lou: good evening, everybody. a lot has changed in the last 2f hours. to balance the republican author of tax revenue increases. president obama, maintaining a highly believable effort of the white house and congress to resolve differences that would avoid the fiscal cliff. that is $1.2 trillion in automatic budget cuts and $600 billion in tax hikes that would result from the expiratin on december 31, te consequences would simply be devasting. the economic impact on the country and the american people would mean the loss of hundreds of thousands, if not millions of jobs. e very likely onset of yet another recession. the white house timothy geithner on capitol hill today. he went there empty-handed to meet the party leaders. house speaker john boehner who has already offered to raise tax revenue finds himself not in a negotiation, but rather competing in the white house media campaign. this is how speaker boehner reacted earlier today to the demands of the
? forty? actually none of the above. john can get a $500,000 policy -from a highly rated insurer - for under $25 a month. his secret? selectquote. selectquote is impartial. they'll search the pick of insurers like these to give you a choice of your best prices. selectquote has great savings on term life for women, too. john's wife carrie, can get a $500,000 policy for under $16 a month. selectquote has helped make term life insurance affordle for hundreds of thousands of people since 1985. how about you? just call this number or visit selectquote dot com. ♪ lou: we have a national debt net of $16 trillion. we want to do a little something in that "chalk talk" tonight to bring some simple math home, primarily for the benefit of thosewe eected to represent us in washington d.c. and if cbo, a congressional budget office projections are right, that 16 will be a trillion dollars higher next year. if the fiscal cliff is avoided, the feral government is expected to spend, let'do it this way, over three and a half trillion dollars. that's a lot of money, especially since they are only
then? it was interesting this weekend to hear, for example, john boehner on with chris l wallace on fox news saying we're nowhere. shouldn't they counter with the president even if they think it's a ridiculous offer? >> if i'm advising the republicans, which i'm not, i'd over a republican plan that's progrowth, pro job creation, get rid of grover, and say this is what we're for, mr. president. here's the plan. i would say let's bargain in good faith. >> the sunday talk shows, geithner saying republicans need to deal with it, and others it's a stalemate. do you think that's for show though? it seems like the deals in washington, at this time of the year happen at the 11th hour, last three years especially for taxes. >> could have been for taxes, but,,and the but is very important, if there's a frame work december 31st at midnight, it will be just that. the markets will, i think, react predictly, and that's not positive. if there's a recession because there's not a tax plan, we'll be hurt. >> that's the wild card; right? how the markets reagent to it because we don't know. >> we don't. >>
? >> i think it is. i was up on capitol hill today. john boehner had a press conference followed one by senate democratic leaders, they were both chest thumping saying neither side of getting closer, but privately they are, republicans know that at some point they are going to have to give in and rates will increase because. democrats are saying they will not concede on raising rates. it is just been announced went last couple minutes that white house put a offer on table a deal that raises $1.6 trillion in revenue, house republicans say no way, they their is a jumping off point where they will begin the negotiations,. neil: you know, tom, people, you are head of one of the largest concerns on planet. so southern company, have you a real concern, no one is talking about lowering thaing that divid that, go 39.6%. for a lot of folks who invest in your company, that is their lifeblood. >> well, such a mistake, neil, when i think about that, why would the government want to put in place an incentive to introduce people to invest in riskier securities? dividend paying stocks are lower ris
is refusing to sit down with republicans, he did talk to speaker john boehner this afternoon, and the white house is talking to federal agencies, warning them to get ready to go over the cliff. with more on this, congressman tom mcclintock of california. a member of the budget committee. if you for joining us today. you know, we heard about this telephone call between speaker boehner and the president. you think anything will come of that? >> the president has been very clear. he is hell-bent to raise taxes massively on those very wealthy folks made making over $250,000. bearer 80% of small businesses, in and exactly the time when we are depending on them to create two thirds of the new jobs in our country desperately needs. gerri: the republicans are in the way of a settlement. i want to hear what he said today. here is the president. >> we can probably solve this in a week. it is not that tough. but we need that conceptual breakthrough that says that we need to do a balanced plan. but that is what is best for the economy. that is what the american people voted for and how we will get it o
hour on after the bell, everything that is pandora, a conversation with president and ceo john kennedy. we had a trader yesterday who said this fall is a buying opportunity. you can really see that it has been a tough road since, of course, march. citigroup is looking to trim the excess by cutting jobs. citigroup is one of the winners here. not a bad move at all. nicole petallides is on the floor of the new york stock exchange. we know it has done well. what are people talking about? nicole: citigroup is jumping on this news. when you finally have a ceo that is making some changes, and when you have the first move, they are anticipating anything. we know that he is under o'reilly and o'reilly really has the mindset to be streamlined, also companies that illuminate businesses that are not having satisfactory returns. you are talking about 4% workforce cuts. they are streamlining the company. they are getting rid of excess, as far as products and people. as a result, you see the stock sort. you can see it is up 7.7%. back to you. liz: thank youuso much. at 4:00 p.m. eastern you will hear
as john boehner detailed this week, he basically said this is not a serious proposal and here he is asking for more spending, neil, what i find more conflicting, when, since when is the conversation, the natural conversation become nearly-- we raise taxes or else? and it seemsike the president is saying that that is the only option on the table and ifothing else happens, it's the republican's fault that we fall off the cliff and go into recession in the new year. >> and you don't believe charlie gasperino or what jay carney says, we could deal with spending cuts up front as well? >> i don't know why anybody is surprised by the opening salvo. i think this is basically it. i don't think that the president's going to budge. i mean, there's a dilutional nature of president obama. he won 50% of the vote and yet, he thinks he won 90% of the vote and that's how he's acting now and i don't care what anybody says, there is no rational reason to raise taxes right now. you don't get enough revenue to deal with the deficit and by the way, we got 2.7% economic growth, which people were jumping up clapp
the toilet. in the john. more than 38 million adults admit to shopping with their pants around their ankles. the study did say men are more likely than women to shop when they are on the pop. the study comes to us from cash starved. that is disgusting. connell: that is multitasking. great video. dagen: they always talk about your phones being really nasty. connell: the dirtiest thing in the world. where is the incentive for the president to make a deal? he has to trust the voters. some of the polls have been saying that. why make a deal. juan williams on why the president should cut a deal with the republicans. dagen: causing companies. bonnie. these are not losers, they are winners on the s&p today. ♪ >> announcer: you never know when, but thieves can eal your identity and turn your life upside down. >> hi. >> hi. you know, i can save you 15% today if you open up a charge card account with us. >> you just read my mind. >> announcer: just one little piece of information and they can open bogus accounts, stealing your credit, your money and ruining your reputation. that's why you need life
: not as much of what you think should happen, i am more interested in what will happen. the ball is now in john boehner's court. what do you think is going to happen? >> over the last four years, the republicans have tried to negotiate in good faith. even two years ago, when the first debt ceiling came up, they said they would put revenues on the table and try to work with our caucus on that. what can we get in return and the president said, basically, nothing. i will not do serious spending cuts. i am not going to do entitlement reform. i am not giving you anything. they came to the table thinking the president would meet them halfway and give them at least something that they want and the president is, yet again, not giving them anything. i think this is what the president wants. he wants the tax rates to go up. even if that means on everybody. that means more revenue going into the government. he wants the defense cuts. he proposed even more spending. 2 billion more in spending. connell: even from congress today, there have been republicans hear similar things. it does leave them and whateve
falling in the first hour of trading this morning, house speaker john maynard stood up and offered support to investors and leaders for the market. stocks stabilized and then began climbing on the speaker's expression of optimism that a deal is within reach. we will take all of that up and more here tonight with bedford open geyser ceo harvey eisen and republicans who have put tax revenue on the negotiating table , and some republicans have flat out repudiated their anti-tax increase pledge. the author of that pledge, grover norquist, here and we will ask him how it is that he came to be the villain in this piece, how it feels to be the subject of attacks from both the left and some on the right and what the future holds for those republicans who break their pledges to voters. also tonight, demonstrations for a sixth straight day in egypt. the united nations on statehood for palestinians tomorrow and the president's spokesman says the white house is not concerned with ambassador rice misleading the public on benghazi. pillows a prize-winning journalist, a former pentagon official said amon
if it is smart to chase thesd stocks, we talked to john thomal financial dividends, out now before the end of the year to avoid the tax hit. do you think this makes sense for companies to do ts? why are they motivated to do it? >> makes sense for them to do it. they say they do it for the shareholders, and it's a benefit for the shareholders, bt, they -- gerri: including those running the company, be real here. >> that's what they are finding that a tremendous amount of them -- gerri: ceos, board of directors, come on. >> findg stuff like management owns on average 28% of shares and stuff like that so, for example, walmart pulled it forwd from january to december. they estimate that's going to save the walmart family $180 million. gerri: it's not about you and me. >> ha-ha! gerri: we're not the people they are tryingo make happy, but you have done us a favor of picking the category, those offering the special dividends, though affordable, you might want to buy now, costco, why do you like these companies? >> well, first of all, they are in good trends to begin with. i don't like to buy sto
their dividend which amounts to eight cents a share. >>> "the wall street journal" reports andy virus mogul john mcafee has been hospitalized. he is being detained in guatemala for entering the country illegal. police in belize want to question him about the murder of his neighbor in their country. he may have suffered a heart attack. that is latest from fox business, giving you the power to prosper liz: apple shares rising after approaching the infamous death cross. what is that? the death cross is where the 50-day moving average drops below the 200-day average. david: but today's stock gains, were not so dramatic as recent selloff that our next guest says partly could be attributed to profit-taking on a fear of an increase in capital-gains tax. "morningstar" senior equity analyst joins us now. brian, we've been talking a lot about companies are changing their pattern and behavior of dividends and a lot of things as a result of increased taxes are coming. how much of apple's decline is because people want to lock in the gains at pretax rate, the cheaper tax rate that will go up in 2013? >> well
will -- [laughter] stuart: but the big story this hour is john boehner's counteroffer to the president, immediately dismissed by the way. it includes 800 billion dollars in tax revenue, not from higher tax rates. that is the sticking point. president obama wants those tax rates raised. john boehner, he wants fewer deductions, limits on deductions. that's the status quo right now of the discussion there. i want to bring you to the big board because we're going nowhere this tuesday morning on very low volume. back below 13,000. tuesday morning, here's the company: elizabeth macdonald is with us. david asman is with us. and nicole petallides right there on the floor of the new york stock exchange. china, cracking down on money transfers at wynn macau casinos. i guess that wynn stock is going to be down? nicole: you are right. we're seeing the stock down nearly 4% here. this is not good news for them overall. basically china's new leadership cracking down on fast money moving. they are going to set rules where you can't -- restrict the limits on how much money can actually be taken out of the country.
of retreat or any sign of compromise? remember, the president wants higher tax rates. will john boehner try to move the line that the president has drawn? we will have it for you live here on "varney & company" starting around ten o'clock eastern. then we have darden restaurants, the parent of olive garden, red lobster. it says its businesses could be hurt by bad publicity. darden said it might cut hours for some workers in order to avoid having to provide health insurance for them under obamacare. and a rift in the liberal media because of that. it might be a stretch in my opinion and maybe a stretch people saying they'll stop going to restaurants because of it. and a debate on that. darden, obamacare later in the hour. and breaking news from citigroup, too, it's cutting 11,000 jobs, it calls it part of its repositioning. it says it will save a billion dollars a year and the stock is going to be up at the opening bell. hope for the best, but plan for the worst. that's what companies are doing. more than 200 of them are getting ready for the expected dividend tax like next year by paying di
. appreciate it. the battle over the fiscal cliff, certainly heating up. house speaker john boehner says the two sides are at a stalemate. no big surprise. while president obama says the only thing holding up the deal is quote a handful of republicans. here we go again. peter barnes in washington with the latest on the stalemate. peter? >> that's right, ash. speaker boehner said a stalemate, quote, let's not kid ourselves for punctuation. he and the president were both out in front of cameras today to try to convince voters that both of them are ready to keep talking. >> i'm willing to move forward in good faith. our original framework still stand. instead of raising tax rates we can produce similar amount of revenue, reforming the tax code to close loopholes and lower tax rates. >> this is not some run-of-the-mill debate. this isn't about which political party can come out on top in negotiations. and all of us will have to get out of our comfort zones to make that happen. i'm willing to do that. i'm hopeful that enough members of congress in both parties are willing to do that as well.
to have a grasp of the solution. so he is turning to john boehner to say why don't you do what we couldn't do or won't do? this is really amazing to watch this administration. presidents are supposed to lead, take the initiative, persuade others, create a national consensus. what does he do? he goes out to a toy, he goes out to a toy factory and wants another quarter trillion dollars in spending. i can't imagine why people are somewhat, well suspicious of our politicians given that. melissa: when you talk to people, they're so frustrated by what they see. they want to tune it out. turn back to their family in their own community. it is hard not to gauge. >> let's be real honest. that's what they have already done. that's why we're in this condition. we saw the president even lose 7 1/2 million votes from 2008 to this past november. we've got a lot of people retreating and becoming more insular instead of being engaged. melissa: yeah. >> republicans walking around whining about this president instead of doing something. the republicans were beaten because they doesn't do anything. they di
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